NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Fennec Pharmaceuticals Inc. (NASDAQ: FENC) resulting from allegations that Fennec may have issued materially misleading business information to the investing public.
On August 11, 2020, Fennec issued a press release announcing receipt of a Complete Response Letter (“CRL”) from the U.S. Food and Drug Administration (“FDA”) regarding the Company’s New Drug Application (“NDA”) for the Company’s PEDMARK product, a formulation of sodium thiosulfate for intravenous administration for the ototoxicity associated with cisplatin chemotherapy. The press release stated that “[a]ccording to the CRL, after recent completion of a pre-approval inspection of the manufacturing facility of our drug product manufacturer, the FDA identified deficiencies resulting in a Form 483, which is a list of conditions or practices that are required to be resolved prior to the approval of PEDMARK.”
On this news, Fennec’s stock price fell $3.51 per share, or 34%, to close at $6.66 per share on August 11, 2020, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Fennec’s investors. If you purchased shares of Fennec, please visit the firm’s website at http://www.rosenlegal.com/cases-register-1926.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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